Canada's Questerre Q1 adjusted funds flow jumps on Brazil cost cuts

Questerre Energy (Canada)

15/05/2026 01:10

Overview

Canada energy technology firm's Q1 production rose after PX Energy acquisition; revenue unchanged from prior quarter

Adjusted funds flow from operations for Q1 surged to C$20.8 mln, including C$6.7 mln from Brazil contracts

Company cut lifting costs in Brazil by over 30% to C$17.5 mln

Outlook

Company plans further cost reductions at PX Energy for the remainder of the year

Questerre is evaluating options to list preferred shares for trading

Company notes evolving energy situation in Quebec may impact consideration of local natural gas production

Result Drivers

COST REDUCTIONS - Lifting costs in Brazil fell by over 30% to C$17.5 mln after PX Energy acquisition, per CEO Michael Binnion

HIGHER REALIZED PRICES - Stronger oil prices in March offset lower production volumes, keeping revenue unchanged from prior quarter

MINIMUM SALES CONTRACTS - C$6.7 mln in revenue from minimum sales contracts in Brazil contributed to adjusted funds flow

Company press release: ID:nGNX7vxxYH

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Capex
C$1.80 mln


Analyst Coverage

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)